The world is growing so fast to the digital era since the internet shows up. The journey which has started with the invention of the computers, it’s now leading us to the digital era. This journey is filled with full of surprises, which make it more interesting and that’s the reason every new morning comes with a piece of new technological news. Every news and every new research are just small steps to the digital era. Crypocurrency is just a part of that era. And Bitcoin is the most famous and valuable of all.
When we talk about the technologically advanced world there is a name that always stays in news headlines. The name is not just brilliant mind, also a very successful businessman, which is responsible for the advanced futuristic vehicles, eco-friendly solar power, space x which not just manufacturers also transport, e.t.c. Whenever someone tries to talk about their achievements, there are always not enough words to describe how great Elon musk is. Elon Musk is not just a genius, they are also a great businessman and just because they are so respected in the whole world, their words have also become so powerful. The new digital age has lots of advanced things. The way the digital Era is changing things, it also created some new things, the cryptocurrency is one of them.
A cryptocurrency is nothing but a digital or virtual currency that is secured by cryptography, that makes it nearly impossible to counterfeit or double-spend. Do you know, most of the cryptocurrencies are decentralized networks that are based on blockchain technology—a distributed ledger enforced by a disparate network of computers. Cryptocurrency is not just a technological growth is also a business, which worth more than a billion dollars. It is not obvious that Elon Musk is connected with this business.
When we talk about cryptocurrency then a very big name shows up “Bitcoin”. The word “Bitcoin” just has 7 alphabetical characters don’t say that, the worth is more than a billion dollars. It is one of the famous and also expensive cryptocurrencies in today’s world. And It was created by an unknown group in 2008, which comes into the market in 2009. Bitcoin started with cryptocurrency but later it becomes the future of cryptocurrency.
From 2009 to 2021 the journey of Bitcoin has changed the world forever, now people have a new and easy way of trading, which is crypto trading, and it all possible just because of the success of Bitcoin. Today one Bitcoin worth is 40,321.50 USD. This expensive but futuristic way of business is pretty fascinating and also interesting. The price of the cryptocurrency is not always stayed still it fluctuates and there is no way to control any cryptocurrency movement.
So how the Elon Musk Control the Bitcoin movement?
The answer to this question is pretty interesting, so let’s move forward with how Elon Musk controls the Bitcoin movement. Elon Musk is not just famous for their genius mind are also so famous for a successful businessman, Elon Musk is the owner of space x, Tesla Motors, SolarCity, PayPal like other many famous companies, this thing makes them a very successful businessman in different fields and this is the reason why Elon Musk is such a powerful name. when I said powerful name, I didn’t mean that power by money. When someone has a powerful name, it means the words of that person are powerful enough to believe and trust. “Believe” and “Trust” both words that could be different in other languages but, they always hard to make in someone in this digital age but when the name is powerful then it can make trust and believe anyone. Elon Musk is such a powerful name that is capable of believing billions of people all around the world in any genre and this is the answer to the question. let’s talk about this in a much detailed way.
So just because Elon Musk is so powerful businessman and also a genius mind it makes their name very powerful and this is the answer to how he controls the Bitcoin movement. There are lots of peoples who are more than a million regular customers of Elon Musk companies and most off of deal in cryptocurrency. So when Elon Musk said that Tesla company will not deal in Bitcoin from now, then a lot of Bitcoin holders sell their coin. When a lot of people start selling it because Elon Musk will no deal in It, then most regular and non-regular Tesla customers sold their Bitcoin to get Tesla products. And that’s why the movement of it start going down.
When tesla deal in Bitcoin, then the cycle goes like customer bought the Bitcoin to buy Tesla product and when the customer pays to the tesla in Bitcoin the currency still stays in Bitcoin. So there is no loss to the Bitcoin when companies try to deal in Bitcoin. But it when Elon Musk announce that they will no longer deal in Bitcoin, then a lot of Bitcoin holders sell their Bitcoin to buy Tesla products which they used to do who in cryptocurrency. Now the cycle is something like this when a bitcoin holder wants to buy a Tesla product they have to sell their Bitcoin to the normal currency and then they can buy the tesla product. So since the powerful person like Elon Musk said the tesla will no longer accept Bitcoin, since then the selling rate of the Bitcoin increases and become a heavy loss to the Bitcoin.
The movement controlling cryptocurrency is very hard but some powerful names can do this very easily. Elon Musk didn’t just a great businessman they are also a great mind who can do such things, which still feels unbelievable. Elon Musk also recently said “the dogecoin is the future of cryptocurrency” and since they have said this line the value of Dogecoin increased very rapidly, Danfoss another great example of powerful words, which shows the powerful name is is more powerful than a personal strength or money.
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